The largest fintech bank in Latin America, NuBank, has teamed up with Lightspark to offer its customers and platform access to the Bitcoin Lightning Network. The partnership aims to improve Bitcoin adoption and provide faster service to users.
The announcement comes as Bitcoin (BTC) has been rangebound trading between the red and green territory for the entire day. At press time, the OG-crypto currency is trading at $61,423.65, down 0.05% from the same time last day.
According to Thomaz Fortes, Executive Director of Nubank Crypto, Lightning Network is another step toward Nubank’s commitment to delivering excellent solutions and fostering long-term connections with clients. He said,
The future integration of Lightning underscores NuBank’s ongoing mission to offer more efficient services with greater speed and lower costs through blockchain technology
Bitcoin Adoption To Face Ease In Existence After NuBank Partnership
The partnership will be analyzing synergies, initiating the integration, mapping, and developing possible products for Bitcoin users. Additionally, the team-up will help Lightning and UMA access one of the biggest digital financial services platforms globally.
The collaboration is praised for its ability to reduce expenses and speed up transactions, which will help Bitcoin gain traction in the mainstream and contribute to its notable value increases this year.
Payments that are cheaper, faster, and easier will undergo a significant change after this partnership is applied in full.
Bitcoin To Stabilize In the Future?
NuBank’s announcement regarding the deal with Lightspark comes at a time when Bitcoin trading has not given very good signals to market participants. However, the question persists if this pressure will continue.
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Bitcoin right now is giving signals of a bullish divergence. In a sense, bullish divergences are the opposite of bearish signals. The market values of crypto reach a new low in a bullish divergence, while the technical indicators indicate a higher price.
This suggests that bulls are becoming more powerful and that bears are losing ground in the market, portending a bullish reversal after the downturn has ended.
Bitcoin’s price indicates that a corrective phase is ongoing based on the most recent sell-off from the overhead resistance trendline. A new resistance trendline inside the range is created by the decline, and supply pressure gradually increases as a result.
The price of Bitcoin has dropped by over 10% over the past three weeks as the correction phase moves closer to the $60K level. If the market price doesn’t recover from the $60K range under the bullish dominance, it may go as low as $57,963 this month. But a bullish recovery might break over the recently drawn resistance trendline and take back $66,173 in value.
